ITC Chairman Sanjiv Puri ‘committed’ to Make in India, Rs 20,000 crore manufacturing ramp up lined up

FMCG major ITC’s Chairman Sanjiv Puri said on July 25 that the company plans to invest Rs 20,000 crore in the medium term to ramp up manufacturing footprint across sectors.

He was speaking at the annual general meeting held in Kolkata, where he said the company is committed to boost the Make in India initiative and has built 40 manufacturing assets across India.

Sanjv Puri underscored the challenges to business in current times and called for efforts to redefine growth. “We are navigating a pivotal inflection point shaped by turbulence and rapid changes that calls for novel strategies to reimagine the future.” Puri added that it is ‘imperative’ to redefine growth and adopt a new paradigm of ‘compassionate capitalism’.

“The year gone by saw challenges from a weak external sector, dumping of imports, and inflationary pressure leading to softening of demand,” Sanjiv Puri said. ITC is slated to declare its June quarter results on August 1, 2025.

To sustain India’s growth trajectory, ITC Chairman backed the need for ‘strategic’ supply chain decisions and an effort to ‘redouble’ value addition in the economy, while stating that new brand launches are aimed at driving ‘value accretion’. As much as 65 percent of the company’s revenue now comes from its non-cigarette business, the Chairman said.

This is being updated